Attached files
| file | filename |
|---|---|
| 10-Q - Pure Earth, Inc. | v185813_10q.htm |
| EX-4.1 - Pure Earth, Inc. | v185813_ex4-1.htm |
| EX-2.1 - Pure Earth, Inc. | v185813_ex2-1.htm |
| EX-10.1 - Pure Earth, Inc. | v185813_ex10-1.htm |
| EX-31.2 - Pure Earth, Inc. | v185813_ex31-2.htm |
| EX-10.2 - Pure Earth, Inc. | v185813_ex10-2.htm |
| EX-10.7 - Pure Earth, Inc. | v185813_ex10-7.htm |
| EX-10.3 - Pure Earth, Inc. | v185813_ex10-3.htm |
| EX-32.1 - Pure Earth, Inc. | v185813_ex32-1.htm |
| EX-10.6 - Pure Earth, Inc. | v185813_ex10-6.htm |
| EX-32.2 - Pure Earth, Inc. | v185813_ex32-2.htm |
| EX-10.4 - Pure Earth, Inc. | v185813_ex10-4.htm |
| EX-10.8 - Pure Earth, Inc. | v185813_ex10-8.htm |
| EX-10.5 - Pure Earth, Inc. | v185813_ex10-5.htm |
| EX-31.1 - Pure Earth, Inc. | v185813_ex31-1.htm |
|
|
Exhibit
10.9
|
Amended
and Restated Interest Rate Swap Confirmation
|
TO:
|
Pure
Earth Recycling (NJ), Inc. and Rezultz,
Incorporated
|
|
FROM:
|
Susquehanna
Bank
|
|
DATE:
|
April
14, 2010
|
|
RE:
|
Interest
Rate Swap
|
|
REF
NO.:
|
CFSUSQHANNA2008111302
|
The
purpose of this communication is to set forth the terms and conditions of the
Interest Rate Swap Transaction entered into on the Trade Date referred to below
(the "Interest Rate Swap Transaction"), between Susquehanna Bank ("Party A" or
“we”) and Pure Earth Recycling (NJ), Inc. (formerly known as MidAtlantic
Recycling Technologies, Inc. and successor by merger to Pure Earth Treatment
(NJ), Inc.) and Rezultz, Incorporated ("Party B" or “you”), as amended and
restated hereby. This communication constitutes a "Confirmation" as
referred to in the Interest Rate Swap Agreement specified
below.
This
Confirmation incorporates the definitions and provisions contained in the 2000
ISDA Definitions as published by the International Swaps and Derivatives
Association, Inc. (the "Definitions"). In the event of any
inconsistency between the Definitions and this Confirmation, this Confirmation
will govern.
This
Confirmation is subject to and incorporates the terms of the ISDA Master
Agreement and Schedule dated as of November 12, 2008, as amended, between Party
A and Party B, as amended (the “Interest Rate Swap Agreement). All
provisions contained in, or incorporated by reference to, the Interest Rate Swap
Agreement shall govern this Confirmation except as expressly modified
below. In the event of any inconsistency between the provisions of
that Interest Rate Swap Agreement and this Confirmation, this Confirmation shall
prevail for the purpose of this Interest Rate Swap Transaction.
Both
Party A and Party B acknowledge and agree that as of December 31, 2009 Pure
Earth Treatment (NJ), Inc. (“PE Treatment”) merged with and into Pure Earth
Recycling (NJ), Inc. (“PE Recycling”), and as a result of such merger: (i) PE
Recycling succeeded to and assumed all obligations of PE Treatment under the
Interest Rate Swap Agreement and this Confirmation and (ii) PE Recycling and
Rezultz, Incorporated now comprise Party B under the Interest Rate Swap
Agreement and this Confirmation.
This
interest rate swap Confirmation amends, supersedes, and replaces in its entirety
the Confirmation dated November 13, 2008, and the amended Confirmation dated
November 13, 2009, between Party A and Party B.
Page 1 of
6
The terms
of the particular Interest Rate Swap Transaction to which this communication
relates are as follows:
|
Notional
Amount:
|
USD
8,000,000.00 for the initial Calculation Period and amortizing according
to the attached Notional Schedule.
|
|
Trade
Date:
|
November
13, 2008
|
|
Effective
Date:
|
November
13, 2008
|
|
Termination
Date:
|
November
15, 2015, with No Adjustment to Period End
Dates.
|
Fixed
Amounts:
|
|
Fixed
Rate Payer:
|
Party
B
|
|
|
Fixed
Rate:
|
6.10%
|
|
Fixed
Rate Day Count Fraction:
|
Act/360
|
|
Fixed
Rate Calculation Periods:
|
From
and including the fifteenth (15th) day of each month to but excluding the
fifteenth (15th) day of the following month starting with the Effective
Date continuing until the Termination Date, with No Adjustment to Period
End Dates.
|
|
Fixed
Rate Payer Payment Dates:
|
Fifteenth
(15th) calendar day of each month beginning with December 15, 2008,
continuing until the Termination Date, subject to adjustment in accordance
with the Following Business Day
Convention.
|
Floating
Amounts:
|
|
Floating
Rate Payer:
|
Party
A
|
|
Floating
Rate Calculation Periods:
|
From
and including the fifteenth (15th) day of each month to but excluding the
fifteenth (15th) day of the following month starting with the Effective
Date continuing until the Termination Date, with No Adjustment to Period
End Dates.
|
|
Floating
Rate Payer Payment Dates:
|
Fifteenth
(15th) calendar day of each month beginning with December 15, 2008,
continuing until the Termination Date, subject to adjustment in accordance
with the Following Business Day
Convention
|
|
|
Floating
Rate Option:
|
USD-LIBOR-BBA,
however the reference to "two London Banking Days" in the third line of
the definition of "USD-LIBOR-BBA" as published in Section 7.1.(w).(xvii)
of the Annex to the 2000 ISDA Definitions is replaced by "one London
Banking Day".
|
Page 2 of
6
|
|
Designated
Maturity:
|
1
Month (No interpolation)
|
|
|
Floating
Rate Day Count:
|
Act/360
|
|
|
Floating
Rate Spread:
|
250.0
bps (plus) (2.50%)
|
|
Initial
Rate Setting (excluding spread):
|
1.40875%
|
|
|
Reset
Dates:
|
First
day of each Floating Rate Calculation Period, with No
Adjustment
|
|
|
Compounding:
|
Inapplicable
|
|
Business
Days:
|
New
York
|
|
Calculation
Agent:
|
Party
A
|
|
Governing
Law:
|
New
York
|
|
Payment
Instructions Parties A and B:
|
Party
A will debit/credit the Reserve Account of Party B for
payment.
|
|
Notice to Party B:
|
Brent
Kopenhaver,
|
Chairman
of the Board and Chief Financial Officer
c/o Pure Earth, Inc.
3209 North Mill Rd.
Vineland, NJ 08360
Facsimile
No. 215-639-8756
Please
confirm that the foregoing correctly sets forth the terms of our agreement with
respect to the Interest Rate Swap Transaction by signing in the space provided
below and sending a copy of the executed Confirmation to Susquehanna Bank, Two
Aquarium Drive, Camden, NJ 08103, Attention: Hugh J. Arbuthnot,
Facsimile number 856.756.7825.
Susquehanna
Bank
|
By:
|
/s/
Hugh J. Arbuthnot
|
| Name: |
Hugh
J. Arbuthnot
|
| Title: |
Commercial
Relationship
Manager
|
Page 3 of
6
PURE EARTH RECYCLING (NJ),
INC. (formerly known as MIDATLANTIC RECYCLING TECHNOLOGIES,
INC. and successor by merger to PURE EARTH TREATMENT (NJ), INC.), a
Delaware corporation
|
By:
|
/s/
Mark Alsentzer
|
| Name: |
Mark
Alsentzer
|
| Title: |
President
|
REZULTZ, INCORPORATED, a New
Jersey corporation
|
By:
|
/s/
Mark Alsentzer
|
| Name: |
Mark
Alsentzer
|
| Title: |
President
|
Page 4 of
6
NOTIONAL
SCHEDULE (Amended and Restated)
|
Start Date
|
End Date
|
Rate Fixing Date
|
Notional (USD)
|
|||
|
13-Nov-08
|
15-Dec-08
|
12-Nov-08
|
8,000,000.00
|
|||
|
15-Dec-08
|
15-Jan-09
|
12-Dec-08
|
7,926,995.93
|
|||
|
15-Jan-09
|
15-Feb-09
|
14-Jan-09
|
7,850,912.50
|
|||
|
15-Feb-09
|
15-Mar-09
|
13-Feb-09
|
7,774,431.38
|
|||
|
15-Mar-09
|
15-Apr-09
|
13-Mar-09
|
7,693,617.93
|
|||
|
15-Apr-09
|
15-May-09
|
14-Apr-09
|
7,616,314.64
|
|||
|
15-May-09
|
15-Jun-09
|
14-May-09
|
7,537,323.11
|
|||
|
15-Jun-09
|
15-Jul-09
|
12-Jun-09
|
7,459,202.88
|
|||
|
15-Jul-09
|
15-Aug-09
|
14-Jul-09
|
7,379,416.61
|
|||
|
15-Aug-09
|
15-Sep-09
|
14-Aug-09
|
7,300,471.01
|
|||
|
15-Sep-09
|
15-Oct-09
|
14-Sep-09
|
7,221,112.77
|
|||
|
15-Oct-09
|
15-Nov-09
|
14-Oct-09
|
7,140,122.17
|
|||
|
15-Nov-09
|
15-Dec-09
|
13-Nov-09
|
7,140,122.17
|
|||
|
15-Dec-09
|
15-Jan-10
|
14-Dec-09
|
7,140,122.17
|
|||
|
15-Jan-10
|
15-Feb-10
|
14-Jan-10
|
7,140,122.17
|
|||
|
15-Feb-10
|
15-Mar-10
|
12-Feb-10
|
7,055,866.55
|
|||
|
15-Mar-10
|
15-Apr-10
|
12-Mar-10
|
7,055,866.55
|
|||
|
15-Apr-10
|
15-May-10
|
14-Apr-10
|
7,055,866.55
|
|||
|
15-May-10
|
15-Jun-10
|
14-May-10
|
7,055,866.55
|
|||
|
15-Jun-10
|
15-Jul-10
|
14-Jun-10
|
6,966,505.81
|
|||
|
15-Jul-10
|
15-Aug-10
|
14-Jul-10
|
6,875,495.23
|
|||
|
15-Aug-10
|
15-Sep-10
|
13-Aug-10
|
6,785,187.04
|
|||
|
15-Sep-10
|
15-Oct-10
|
14-Sep-10
|
6,694,404.47
|
|||
|
15-Oct-10
|
15-Nov-10
|
14-Oct-10
|
6,602,010.72
|
|||
|
15-Nov-10
|
15-Dec-10
|
12-Nov-10
|
6,510,265.97
|
|||
|
15-Dec-10
|
15-Jan-11
|
14-Dec-10
|
6,416,936.18
|
|||
|
15-Jan-11
|
15-Feb-11
|
14-Jan-11
|
6,324,219.27
|
|||
|
15-Feb-11
|
15-Mar-11
|
14-Feb-11
|
6,231,015.35
|
|||
|
15-Mar-11
|
15-Apr-11
|
14-Mar-11
|
6,134,154.41
|
|||
|
15-Apr-11
|
15-May-11
|
14-Apr-11
|
6,039,952.12
|
|||
|
15-May-11
|
15-Jun-11
|
13-May-11
|
5,944,231.57
|
|||
|
15-Jun-11
|
15-Jul-11
|
14-Jun-11
|
5,849,031.65
|
|||
|
15-Jul-11
|
15-Aug-11
|
14-Jul-11
|
5,752,340.59
|
|||
|
15-Aug-11
|
15-Sep-11
|
12-Aug-11
|
5,656,132.71
|
|||
|
15-Sep-11
|
15-Oct-11
|
14-Sep-11
|
5,559,419.48
|
|||
|
15-Oct-11
|
15-Nov-11
|
14-Oct-11
|
5,461,256.21
|
|||
|
15-Nov-11
|
15-Dec-11
|
14-Nov-11
|
5,363,519.34
|
|||
|
15-Dec-11
|
15-Jan-12
|
14-Dec-11
|
5,264,360.25
|
|||
|
15-Jan-12
|
15-Feb-12
|
13-Jan-12
|
5,165,589.12
|
|||
|
15-Feb-12
|
|
15-Mar-12
|
|
14-Feb-12
|
|
5,066,299.16
|
Page 5 of
6
|
15-Mar-12
|
15-Apr-12
|
14-Mar-12
|
4,964,770.75
|
|||
|
15-Apr-12
|
15-May-12
|
13-Apr-12
|
4,864,425.95
|
|||
|
15-May-12
|
15-Jun-12
|
14-May-12
|
4,762,729.80
|
|||
|
15-Jun-12
|
15-Jul-12
|
14-Jun-12
|
4,661,323.72
|
|||
|
15-Jul-12
|
15-Aug-12
|
13-Jul-12
|
4,558,595.13
|
|||
|
15-Aug-12
|
15-Sep-12
|
14-Aug-12
|
4,456,116.78
|
|||
|
15-Sep-12
|
15-Oct-12
|
14-Sep-12
|
4,353,100.12
|
|||
|
15-Oct-12
|
15-Nov-12
|
12-Oct-12
|
4,248,804.74
|
|||
|
15-Nov-12
|
15-Dec-12
|
14-Nov-12
|
4,144,699.12
|
|||
|
15-Dec-12
|
15-Jan-13
|
14-Dec-12
|
4,039,344.37
|
|||
|
15-Jan-13
|
15-Feb-13
|
14-Jan-13
|
3,934,138.50
|
|||
|
15-Feb-13
|
15-Mar-13
|
14-Feb-13
|
3,828,380.02
|
|||
|
15-Mar-13
|
15-Apr-13
|
14-Mar-13
|
3,720,119.92
|
|||
|
15-Apr-13
|
15-May-13
|
12-Apr-13
|
3,613,237.23
|
|||
|
15-May-13
|
15-Jun-13
|
14-May-13
|
3,505,180.88
|
|||
|
15-Jun-13
|
15-Jul-13
|
14-Jun-13
|
3,397,169.17
|
|||
|
15-Jul-13
|
15-Aug-13
|
12-Jul-13
|
3,288,014.47
|
|||
|
15-Aug-13
|
15-Sep-13
|
14-Aug-13
|
3,178,862.03
|
|||
|
15-Sep-13
|
15-Oct-13
|
13-Sep-13
|
3,069,136.25
|
|||
|
15-Oct-13
|
15-Nov-13
|
14-Oct-13
|
2,958,314.04
|
|||
|
15-Nov-13
|
15-Dec-13
|
14-Nov-13
|
2,847,429.77
|
|||
|
15-Dec-13
|
15-Jan-14
|
13-Dec-13
|
2,735,480.55
|
|||
|
15-Jan-14
|
15-Feb-14
|
14-Jan-14
|
2,623,425.78
|
|||
|
15-Feb-14
|
15-Mar-14
|
14-Feb-14
|
2,510,782.41
|
|||
|
15-Mar-14
|
15-Apr-14
|
14-Mar-14
|
2,396,271.03
|
|||
|
15-Apr-14
|
15-May-14
|
14-Apr-14
|
2,282,434.47
|
|||
|
15-May-14
|
15-Jun-14
|
14-May-14
|
2,167,613.20
|
|||
|
15-Jun-14
|
15-Jul-14
|
13-Jun-14
|
2,052,575.55
|
|||
|
15-Jul-14
|
15-Aug-14
|
14-Jul-14
|
1,936,585.83
|
|||
|
15-Aug-14
|
15-Sep-14
|
14-Aug-14
|
1,820,334.65
|
|||
|
15-Sep-14
|
15-Oct-14
|
12-Sep-14
|
1,703,472.81
|
|||
|
15-Oct-14
|
15-Nov-14
|
14-Oct-14
|
1,585,708.49
|
|||
|
15-Nov-14
|
15-Dec-14
|
14-Nov-14
|
1,467,614.21
|
|||
|
15-Dec-14
|
15-Jan-15
|
12-Dec-14
|
1,348,650.94
|
|||
|
15-Jan-15
|
15-Feb-15
|
14-Jan-15
|
1,229,311.46
|
|||
|
15-Feb-15
|
15-Mar-15
|
13-Feb-15
|
1,109,345.11
|
|||
|
15-Mar-15
|
15-Apr-15
|
13-Mar-15
|
988,184.70
|
|||
|
15-Apr-15
|
15-May-15
|
14-Apr-15
|
866,951.76
|
|||
|
15-May-15
|
15-Jun-15
|
14-May-15
|
744,935.12
|
|||
|
15-Jun-15
|
15-Jul-15
|
12-Jun-15
|
622,424.45
|
|||
|
15-Jul-15
|
15-Aug-15
|
14-Jul-15
|
499,164.80
|
|||
|
15-Aug-15
|
15-Sep-15
|
14-Aug-15
|
375,363.15
|
|||
|
15-Sep-15
|
15-Oct-15
|
14-Sep-15
|
250,911.21
|
|||
|
15-Oct-15
|
|
15-Nov-15
|
|
14-Oct-15
|
|
125,763.03
|
Page 6 of
6